MONTREAL, July 9, 2013 /CNW Telbec/ - Argex Titanium Inc. (TSXV: RGX) announced today that shareholders have approved all resolutions put forth at the Company's Annual Meeting of Shareholders held on Thursday, June 27, 2013, in Montreal, Quebec.
|1.||Election of Directors|
|Name of Nominee||% For||% Withheld|
|Florian A. Rais||99.30%||0.70%|
|2.||Appointment of the Auditors||% For||% Withheld|
|BDO Canada LLP, Chartered Accountants||99.95%||0.05%|
|3.||Ratification of the 2010 Stock Option Plan||% For||% Against|
|Proposed by management in the May 28th, 2013 Management Proxy Circular||99.02%||0.98%|
|4.||Approval of resolution amending an Escrow Agreement||% For||% Against|
|Proposed by management in the May 28th, 2013 Management Proxy Circular||99.11%||0.89%|
Roy Bonnell, Argex President and Chief Executive Officer, said, "We are pleased with the results from our Annual Meeting this year, including the participation of more than 42% of voting shares. The Argex team would like to thank shareholders for their continued support."
Additionally, Argex reports that it has issued a total of 1,990,000 stock options on July 9, 2013. Directors were granted 1,375,000 stock options, employees were granted 265,000 while the 350,000 balance was granted to consultants. These incentive stock options are exercisable at $1.13 with an expiry date of July 9, 2018 and have an 18-month vesting period.
About Argex Titanium Inc.
ARGEX Titanium Inc. is a near-term producer of Titanium Dioxide (TiO2). With a primary goal of advancing rapidly towards production, Argex has adopted a simple and low-risk strategy for the scale-up of its proprietary process that allows it to produce high quality TiO2 pigment directly from run-of-mine material. The closed-loop process is environmentally friendly and produces minimal inert tailings.
The Argex R&D Centre and its first industrial sized production module will be situated in Salaberry-de-Valleyfield, Quebec. The location of the site can be viewed at Argex Valleyfield.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Argex Titanium Inc.